View From History: U.S. Debt Worries

1939: Debt Worries

Bob Englehart

As part of our 250th year of publication, I'll be posting selected historical cartoons from The Courant's files every Thursday. Henry McNulty, who is our informal historic authority on all things Courant, provides the explanation for the cartoons.

Today's explanation:In 1939, the debate over the national debt was as contentious as it is today. As always, those who wanted to raise the debt ceiling were confronted by calls to cut spending instead. In this cartoon, by Reg Manning of the Arizona Republic, Uncle Sam drinks from a bottle labeled "spending" while the national debt tab -- $41 billion -- sits next to him. The character pulling on his coattails, "Li'l Uno Who," is the average taxpayer. Six months later, Congress did raise the debt ceiling to $45 billion. Five years later, with the United States at war, the debt would be five times that amount.